1099 Tax Calculator &
Self-Employment Tax Estimator

The Self-Employment tax rate for 2026 consists of 12.4% for Social Security and 2.9% for Medicare, totaling 15.3%. The Social Security portion applies only up to the 2026 wage base limit, while the Medicare portion applies to all earnings. High earners may also be subject to an additional 0.9% Medicare surtax.

To lower your taxable income, track all ordinary and necessary business expenses. Common deductions include software subscriptions, home office space, professional equipment, and health insurance premiums. Additionally, you can deduct 50% of your self-employment tax when calculating your adjusted gross income, which helps offset the FICA tax burden.